Economic guru Kudrin warns Russia’s unemployment could TREBLE, as Kremlin labels talk of return to 1990s chaos ‘hysterical’ ...United Arab Emirates

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Economic guru Kudrin warns Russia’s unemployment could TREBLE, as Kremlin labels talk of return to 1990s chaos ‘hysterical’
Perhaps nobody in Russia is more responsible for the country’s fiscal stability than Alexei Kudrin. As Finance Minister, he paid off most of the national debt and built financial stabilization funds that have twice helped avoid financial ruin. While Russia is better prepared for the inevitable Covid-19-driven economic recession than most of its G20 peers, Kudrin still believes the level of unemployment in Russia could treble before the end of the year, reaching eight million. While far from the 20 percent JP Morgan predicts for the United States, an 11 percent rate would put considerable pressure on the Russian social contract, especia

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